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Digital fiat currency wallet provider Neteller has started allowing its users to buy, sell, and hold cryptocurrencies including BTC, BCH, ETH, ETC, and LTC. The cryptocurrency service is already live in 10 countries and the company “plans to roll it out to more than 50 additional markets.”
Neteller Adds Cryptocurrencies
Neteller is a service operated by Paysafe Financial Services Ltd., a wholly-owned subsidiary of Paysafe Group Ltd. Paysafe Financial Services was founded in 1999 to provide an online alternative to traditional payment methods. The group announced on Friday that Neteller has launched an “in-wallet buy-and-sell cryptocurrency feature,” elaborating:
As of today, Neteller users can buy, hold and sell cryptocurrencies via a recognised cryptocurrency exchange including bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin, purchased using any one of 28 fiat currencies available in the Neteller wallet.
“We expect to add more currencies in the near future,” Neteller’s website states, adding that users can currently exchange from more than 100 payment methods into cryptocurrency without additional verification. The supported fiat currencies include Australian dollars, Brazilian reals, Canadian dollars, euros, British pounds, Indian rupees, Japanese yen, Mexican pesos, Russian rubles, Swiss francs, U.S. dollars, and Colombian pesos.
Some of the methods for funding a Neteller account include Pay by Mobile, Epay, Paysafecard, local bank deposits, and bitcoin, according to its website. Funds can also be uploaded via a number of banks online such as Banco do Brasil, HSBC, Itau, and Nordea.
“Our rates are very competitive by comparison to the average market rates on the major cryptocurrency exchanges,” the firm claims. Paysafe detailed:
Neteller’s new cryptocurrency service is already live in ten countries with plans to roll it out to more than 50 additional markets over the coming weeks and months and to extend the service to its Neteller mobile app.
The minimum cryptocurrency purchase or sale amount is “approximately equal to 10 EUR,” the firm clarified, adding that the maximum amount depends on the transaction limits associated with each account.
Each Neteller wallet has a default fiat currency which is chosen at account creation. The fee is 1.5 percent for purchasing and selling cryptocurrencies from wallets with EUR or USD as the default currency. The fee rises to 3 percent for wallets with other default currencies.
About Neteller and Skrill
Neteller users can pay, get paid on thousands of sites, and send money worldwide. The company claims to have “millions of point-of-sale, ATM and online locations” for users to withdraw or spend their cash. “As one of the world’s largest independent money transfer businesses, we process billions of dollars’ worth of transactions each year,” its website reads.
The company described:
The Neteller account is an online stored-value account that millions of consumers in more than 200 countries have used to add, withdraw and transfer funds to and from Neteller merchants and other Neteller customers.
On July 25, Paysafe announced that another digital wallet provider in its group, Skrill, started allowing customers to “instantly buy and sell cryptocurrencies, including bitcoin, bitcoin cash, ether and litecoin, using any one of the 40+ fiat currencies available in the Skrill wallet.”
What do you think of Neteller adding cryptocurrency exchange service? Let us know in the comments section below.
Images courtesy of Shutterstock, Paysafe, and Neteller.
Need to calculate your bitcoin holdings? Check our tools section.
The post Online Fiat Wallet Neteller Launches Cryptocurrency Exchange Service appeared first on Bitcoin News.
The United States Marshals Service (USMS) has announced an auction of 660 BTC that is scheduled to take place on Nov. 4. Under the auction rules, interested participants must formally identify themselves to the USMS and submit deposits of $ 200,000.
USMS to Auction Forfeited BTC in Seven ‘Blocks’
The auction is scheduled to take place across two “series” and seven “blocks.” The “Series A” portion is set to comprise six individual auctions of 100 BTC each, while the “Series B” round will involve a single auction for the remaining 60 BTC. The bitcoins were confiscated from undisclosed parties in various federal criminal, civil and administrative cases, with many of them forfeited to the Drug Enforcement Administration and the Federal Bureau of Investigation.
Bidder registration will open at 8:00 a.m. EDT on Oct. 22 and is scheduled to close at noon EDT on Oct. 31. Bidders will not be permitted to view competing bids and will not be able to change the value of their bids after submission.
Deposits to Be Returned to Ineligible Bidders
The USMS is scheduled to notify all prospective bidders of their eligibility to participate in the auction process by no later than 5:00 p.m. EDT on Nov. 1. Applicants who are deemed to be ineligible to participate in the auction will have their deposits returned to them. The deposits of participants whose bids are not selected as winning bids will also be returned.
In addition, the USMS states that “bids that are contingent on financing terms of any kind will not be considered.” In addition, it requires that “all bids must be made in U.S. dollars.”
Winning Bidders Expected to
Pay BTC Transfer Fees
The USMS will retain the deposits of the winning bidders and credit them toward their purchases. Winning bidders who fail to finalize their transactions will forfeit their deposits, as long as the USMS is not at fault.
The USMS also notes that “any transfer fees associated with the transfer of the bitcoins will be paid by the buyer.” However, buyers will be given the chance to choose the fees that are charged in the transfers.
The USMS will start to return deposits to auction participants as soon as the bitcoin transactions are finalized. It adds that it aims to process all returns within five business days. However, it acknowledges that return times could take slightly longer depending on how many people participate in the seven auction blocks.
What is your response to the United States Marshals Service’s upcoming BTC auction? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Wikipedia
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
Hillary Clinton hit a snag on her way to a fundraiser … well, to be exact, the SUV she was riding in smacked into a cement pole, and came to a screeching halt. Hillary, reportedly accompanied by her trusted aide, Huma Abedin, was in a…
Surfers rejoice: United Airlines is trying to win over wave riders by waiving the usual service fees for checking surfboards, paddle boards and wakeboards on all flights in and out of the Golden State.
That doesn’t mean surfers leaving or flying to California get to check their boards for free….
The Financial Supervisory Authority of Norway is enforcing new money laundering regulations that apply to crypto exchange and storage providers in the country. The law will go into effect on Oct. 15 and will affect companies established in Norway including branches of overseas companies.
New Rules Effective Oct. 15
Finanstilsynet, the Financial Supervisory Authority (FSA) of Norway, announced Thursday that the country’s Ministry of Finance has established new money laundering regulations which apply to “Norwegian providers of virtual currency exchange and storage services.”
While the new rules will go into effect on Oct. 15, companies have until Jan. 15 next year to comply. “The law applies to reporting companies established in Norway, including branches of foreign companies,” the regulator clarified, adding:
Finanstilsynet will ensure that virtual currency exchange and storage providers comply with the money laundering rules. However, FSA does not have any tasks related to the monitoring of other areas of these providers, such as investor protection.
Affected Crypto Providers
The obligations under the new Money Laundering Act apply to crypto storage services and providers offering exchange services between any cryptocurrencies and fiat currencies, such as the Norwegian kroner.
The law also applies to “platforms that facilitate trading and exchanges by connecting buyers and sellers,” Finanstilsynet wrote, emphasizing:
Exchanging between different types of virtual currencies (eg from bitcoin to ethereum) is not included.
The regulator detailed that firms storing private keys on behalf of customers are considered to be involved in “the transfer, storage or purchase of virtual currency” and are therefore included in the new regulations. However, “Storage solutions that do not store private cryptographic keys (often referred to as non-custodial wallets) are not covered by the regulations.”
Impact on Customers
Under the new rules, affected providers must register with Finanstilsynet and provide necessary documents, the agency described, noting:
Consequently, customers must expect to identify and receive questions such as the purpose of a transaction or the origin of funds, etc.
The rules also impose reporting requirements on crypto service providers. However, “Individuals who buy or sell their own virtual currencies for private purposes” and those who occasionally “assist friends and acquaintances with the purchase and sale of virtual currencies” will not be subject to the reporting requirements under the new money laundering rules, the regulator detailed.
What do you think of Norway’s new rules for crypto providers? Let us know in the comments section below.
Images courtesy of Shutterstock and Finanstilsynet.
Need to calculate your bitcoin holdings? Check our tools section.
The post Norway Establishes New Rules for Crypto Service Providers appeared first on Bitcoin News.
Lampposts around downtown Los Angeles are being wired with fiber optic cable and shoebox-sized gadgets to beam the fifth and fastest generation of cellular data, known as 5G, into homes and mobile devices.
This high-tech infrastructure build-out is the result of a deal between the city and Verizon…
This week we wanted to let our wallet users know that we are sunsetting the Shapeshift API in the Bitcoin.com Wallet. The trading platform Shapeshift has decided to change the firm’s business model to a membership platform that requires the user to submit ID/KYC information.
Shapeshift Applies Membership Model
This week you may have noticed that the Shapeshift feature in the Bitcoin.com Wallet may not be working depending on where you live. That’s because Bitcoin.com has come to the decision to remove the in-wallet swapping service from our Wallet client. The Bitcoin.com Wallet is a non-custodial light client that holds both bitcoin cash (BCH) and bitcoin core (BTC) in a simplistic and secure fashion. Since we launched our wallet back in August 2017 we’ve seen 2.9 million wallets created so far. Our wallet is available for Windows, Linux, Mac, Android, iOS, and Android APK allowing anyone in the world the means to secure funds that are not held by a third party. Following the introduction of our wallet, the team at Bitcoin.com partnered with Shapeshift and added the coin shifting feature to the client last February.
Last month the non-custodial crypto trading platform Shapeshift announced that the application would introduce a mandatory membership program. The firm has revealed that the membership program will require basic user information in order to utilize the crypto-to-crypto trading features. The company has further detailed that wallets using the Shapeshift in-wallet service will require a one-time authentication.
“If you are using a wallet that integrates with Shapeshift, you will need to authenticate once through the wallet to enjoy the benefits of your membership and to then use the http://shapeshift.io service,” explained the company.
Bitcoin.com Wallet Will No Longer Feature the In-Wallet Shapeshift Service
Even though Shapeshift will be required to use personally identifying Know Your Customer (KYC) flows, users can still visit the third-party site and still use Shapeshift with our wallet to exchange your bitcoin cash (BCH) or bitcoin core (BTC) for another cryptocurrency. Furthermore, there are several other non-custodial peer-to-peer exchanges available for cryptocurrency enthusiasts that our reporter Kai Sedgwick discussed a few weeks ago.
Our bitcoin-based light client is steadily approaching 3 million wallets created and Bitcoin.com is proud to serve each and every one of our users. As cryptocurrency wallet providers we want to directly communicate with our users on every new feature we add, as well as other subjects such as our decision to sunset the Shapeshift API from the Bitcoin.com Wallet. Stay tuned for more updates on our cryptocurrency wallet and other services we provide in the future.
Have you downloaded the Bitcoin.com Wallet? What do you think about our non-custodial light client? Let us know your thoughts in the comments section below.
Images via Shutterstock and Bitcoin.com
Need to calculate your bitcoin holdings? Check our tools section.
The post Bitcoin.com Wallet Will No Longer Feature the Shapeshift Service appeared first on Bitcoin News.
Cryptocurrency attracts a diverse crowd, from speculators to scammers, and from financiers to gamblers. These groups, and their often opposing aims, are what make the cryptoconomy such a strange yet compelling place. In today’s edition of The Daily, for instance, we’ve got stories pertaining to a Wall Street-funded futures exchange, another US platform ending its margin trading, a company that will trade your token to simulate demand for it, and an obligatory new stablecoin.
Also read: Six of the Best Cryptocurrency Calendars
Wall Street-Backed Crypto Exchange Erisx Announced
Nebraska-based brokerage firm TD Ameritrade is making a move into the cryptocurrency exchange game with a little help from its Wall Street friends. The brokerage big shot revealed Erisx on Wednesday, the name for the platform being spearheaded by trading veteran Thomas Chippas. Regulatory approval is being sought to list bitcoin core, bitcoin cash, ether, and litecoin futures. Chippas left his job at Citigroup to head up the project, a trend that’s been observed repeatedly in the cryptocurrency space, with traditional financiers being lured into the realm of crypto by the promise of a fresh challenge and potentially big payday.
Having closed a fundraising round backed by DRW and Virtu Financial, in addition to TD Ameritrade, the venture has attracted attention, fueled by its intention to position itself as a direct rival to Bakkt, the forthcoming cryptocurrency platform from the NYSE’s parent company. Erisx will begin by offering spot trading for cryptocurrencies before venturing into derivatives, all going well. It should be noted, however, that the “new” exchange is in fact a revamp of Eris Exchange, a derivatives platform that has failed to achieve anything of note in its eight years of operation.
Circle Drops Margin Trading
While one US exchange is dreaming of derivatives, another is shunning them. The Circle-backed Poloniex exchange has revealed that it is removing margin and lending products for its US customers. “These changes are part of our ongoing commitment to ensure that Poloniex complies with regulatory requirements in every jurisdiction,” explained Circle. In the same announcement, it was revealed that three assets will be delisted from Poloniex on October 10: AMP, EXP, and, perhaps surprisingly, gnosis (GNO).
Market Making as a Service
“What is the biggest trouble for every ICO?” asks Tokenboost. No, the answer isn’t creating a token that has genuine utility, developing a vibrant community, or devising a sound business strategy. The biggest problem, apparently, is getting listed on Coinmarketcap (CMC). That’s right: the holy grail for ICOs, apparently, is to have their token listed on a market tracker website. According to Tokenboost, CMC mandates at least $ 100k of daily trading volume before it will list a coin (though a quick check shows this claim to be inaccurate).
Tokenboost’s solution to this problem is to engage in market making on behalf of projects – or wash trading as some might call it. “We can take your token to the top,” they boast. “High volumes and listing on Coinmarketcap make your project more noticeable and trustworthy, attracting more partners, investors and traders. This will create a higher demand for the token and drive its price up.” At least they’re honest.
Ho Wah Genting Group Enters the Stablecoin Game
Scarcely a day goes by without a business announcing its intentions to issue a stablecoin. Ho Wah Genting Group (HWGG), an investment holding company focused on entertainment gaming, is to issue a fiat-backed stablecoin. HWG Cash will be pegged to $ 500 million in bank deposits and used to facilitate transactions within its entertainment business. Based on the Everitoken blockchain, the $ 1 coins will be exchangeable for fiat in Malaysia, where HWGG has a money broker license, and will also be accepted at a range of partner businesses including travel, retail, and cruise services.
What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
The post The Daily: Wall Street-Backed Crypto Futures, Market Manipulation as a Service appeared first on Bitcoin News.
A development team called the Portal Network has announced the creation of a new platform called the Bitcoin Cash Name Service (BCNS). Essentially BCNS turns a long alphanumeric bitcoin cash address into a human-readable name like ‘yourname.bch.’
Can Human Readable Names Replace Traditional Bitcoin Cash Addresses?
This week a company called the Portal Network announced the development team is in the midst of launching a platform called the Bitcoin Cash Name Service (BCNS). Basically, BCNS is a name service that connects to a smart contract using a version of Omni Layer that’s also tethered to an IPFS hash and BCH wallet address. What this means is a user can create a readable name like ‘Johnhenry.bch,’ and use the name as a BCH address on the web. Because BCH doesn’t have smart contract abilities like the Ethereum network, the Portal Network developers say they used an Omni Layer protocol to build BCNS.
“As for BCNS’s use case, developers can write different information to the UTXO-based blockchain at JSON-RPC interface, and get related information stored in the Bitcoin Cash script,” explains Portal Network. “Omni Layer plays a crucial role for BCNS because the Op-Return script is where all the BCNS information is stored.” The BCNS website states:
By using Bitcoin Cash Name Service, users can efficiently manage their Bitcoin Cash.
The Many Attempts to Create a Crypto-Fueled Name Service System
The developers believe a Bitcoin Cash Name Service could replace long alphanumeric BCH addresses with human-comprehensible names that can be exchanged in an easier fashion. “Users can use the very same Bitcoin Cash domain to interact with their favorite smart contracts, and IPFS-hosted sites — In other words, users can efficiently manage their crypto and transactions without the worrying about losing their assets,” Portal Network details.
Portal Network is not just making a name service for BCH as the company is in the midst of creating multiple blockchain name service platforms. The developers they have already completed applications using different standards for a WNS (Wanchain Name System), QNS (Qtum Name Service), and INS (Iconick Name Service).
There have been many attempts to create a more simplified name service for cryptocurrencies but so far none of them have really caught on with the crypto community. BTC has had attempts like Bitalias, Bitdns, and the Ethereum network now has a platform called ENS, an ETH-based name service. A cryptocurrency-based name service system was first discussed in early 2010 and the Namecoin project spawned from this very idea in 2011.
Portal Network developers seem to think they can pull off the crypto-powered name service model for multiple blockchains, but ultimately it will boil down to the digital asset community adopting the name standard. The creators of BCNS say that not only can a user set up a human comprehensible name in the future, but they could interact with IPFS-hosted domains and smart contracts as well. At the moment, the bcns.portal.network website is registering name service credentials for those who sign up via email. Portal Network says they will notify users who registered their .bch name space in the near future.
What do you think about the Bitcoin Cash Name Service (BCNS) idea? Let us know what you think about this concept in the comment section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images via Shutterstock, Portal Network, Medium, and BCNS.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Portal Network Developers Announce Bitcoin Cash Name Service appeared first on Bitcoin News.
This week Bitcoin Cash (BCH) fans were pleased to hear another well-known merchant is now supporting BCH for payments. The South Korea-based food dispatch platform called Shuttle Delivery now accepts BCH for door-to-door meal deliveries throughout the Seoul region.
Food Service Shuttle Delivery in South Korea Now Accepts Bitcoin Cash
People visiting and residents of the Seoul region in South Korea can now use bitcoin cash to pay for tasty cuisine delivered straight to their door. The firm, Shuttle Delivery, is a South Korean food delivery platform that people can use to order meals with their mobile devices. The application is available in Korean and English and for both Android mobile phones and iOS as well. Shuttle Delivery not only accepts traditional credit cards and Paypal but yesterday, on September 16, a website update revealed that it offers full bitcoin cash acceptance. The Shuttle Delivery application connects BCH users in South Korea to 200+ local restaurants.
“Shuttle Delivery provides delivery services from a variety of Seoul’s best restaurants,” explains the company’s website. “So you can enjoy the best food in the comfort of your home, office, or wherever you happen to be! We offer a fully bilingual service where customers can place orders in either English or Korean (한국어).”
‘Buying Food for the In-Laws Without Kissing Visa’s Ring’
The wide variety of restaurants available to order from using Shuttle Delivery includes local Korean, American Grill, Italian, Indian, Vegetarian, Turkish, and European food.
BCH fans on r/btc were elated to hear about Shuttle Delivery accepting bitcoin cash for door-to-door food delivery. One BCH supporter writes that they are pleased to not have to use a credit card to buy food for relatives.
“This is nice,” says the BCH proponent u/ricardotown on Reddit.
I can now internationally buy food for my in-laws without kissing Visa’s ring.
Shuttle Delivery in South Korea is not the only meal transport service that accepts bitcoin cash. The platform Takeaway.com also accepts BCH which and it connects over 30,000+ restaurants throughout Europe and Vietnam to bitcoin cash customers. This includes the well-known online German food marketplace Lieferando.de, a subsidiary of Takeaway.
What do you think about Shuttle Delivery in South Korea accepting bitcoin cash for payments? Let us know what you think about this subject in the comment section below.
Images via Shutterstock, and Shuttle Delivery in South Korea.
Want to create your own secure cold storage paper wallet? Check our tools section.
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